The four documents I recommend for all of my clients are a will, living will, health care power of attorney and financial power of attorney.

In your will, I will include details for the distribution of your estate with as muchdetail as you wish. Also, you may wish to leave certain specified items to somebeneficiaries. You will need to name an Executor, which is the person who handles the administrative aspects of your estate, including distributing assets to beneficiaries, filingdocuments with the Register of Wills, filing inheritance and estate tax returns, etc. If any ofyour assets might be distributed to individuals under 21, you will need to name a Trustee,who will be responsible for holding funds in trust for the minor beneficiaries (under 21) and distributing funds at his/her discretion for the needs of the minor beneficiaries. You may wish to have the principal of the trust fund(s) distributed over time. For instance, you may

wish to specify that 30% of the principal should be distributed at age 21, 30% at age 25 and the balance at 30. Finally, if you have children, you will need to name a Guardian,who will raise your children (under 18) if both you and the children's other parent aredeceased. For each role, I recommend that you name an alternate in the event the first personyou choose is unable or unwilling to act or predeceases you. Also, I will include how you are related to each person you name for each role and their addresses. You may name the same person for as many roles as you wish, but you should keep in mind the potential burden you are placing on the people you choose. Finally, I will include information at the end of your will regarding your life insurance policies, retirement benefits, bank accounts, stocks, bonds, mutual funds, etc., unless you would prefer not to include that information.

Information needed:Your Full NameYour Spouse’s Full Name and Maiden NameYour AddressNames and Birth Dates of Your ChildrenAddresses for Your Children or Other BeneficiariesSpecific Bequests (If Any)How Your Estate Is To Be DistributedExecutor’s Name and AddressAlternate Executor’s Name and AddressTrustee’s Name and AddressAlternate Trustee’s Name and AddressAges and Percentages for Distribution of Trust FundsGuardian’s Name and AddressAlternate Guardian’s Name and AddressAsset Information (To Assist the Executor)Stocks/Bonds/InvestmentsLife InsuranceReal Estate (Other Than Your Home)Retirement BenefitsBank Accounts
The living will is an advanced health care directive. With a living will you can decide which medical treatments you would like withheld if you are incompetent and are either permanently unconscious or have an end-stage medical condition.

Along with the living will, a separate document is a health care power of attorney. In that document, you appoint an agent to make medical decisions on your behalf in the event you are unable to make the decisions for yourself. If you are in a car accident and unconscious for a couple of weeks, but the injuries are not life threatening, the health care power ofattorney would be effective during that time period. The living will would not be effective under those circumstances.

Finally, you may wish to have a financial power of attorney, which authorizes your agent to sign documents on your behalf in the event you are unable to do so yourself. Youcan limit the authority of the agent to only take effect in the event you become disabled or you can leave it open so that if you are on a business trip, your agent can exercise thepowers.